Golden Entertainment posts lower Q1 earnings, maintains dividend and share buyback program

Golden Entertainment, Inc. has reported a dip in revenue and earnings for the first quarter of 2025, attributing the decline to broader macroeconomic challenges while maintaining a confident outlook marked by continued shareholder returns.

In its financial results released Thursday, the Nevada-based gaming company posted Q1 revenue of $160.8 million, down from $174 million during the same period in 2024. Net income also dropped significantly, falling to $2.5 million or $0.09 per fully diluted share from $42 million or $1.37 per share in the prior year.

The 2024 figures were notably boosted by a one-time $69.7 million gain from the sale of the company’s distributed gaming operations in Nevada. Adjusted EBITDA for the latest quarter came in at $37.6 million, compared to $41 million in Q1 2024.

Golden Entertainment Chairman and CEO Blake Sartini said the company’s operational discipline helped cushion the effects of a weaker environment. “Our focus on customer experience and operational efficiencies allowed us to generate strong financial performance despite uncertain macroeconomic conditions,” he said.

“Our business remains resilient and we intend to continue to opportunistically repurchase our common stock under our current buyback authorization.”

As part of its ongoing shareholder returns program, the company’s Board of Directors declared a quarterly cash dividend of $0.25 per share, payable on July 9 to shareholders of record as of June 25. This marks a continuation of the company’s dividend policy despite the earnings dip.

Golden also repurchased 273,945 shares of its common stock during the quarter at an average price of $27.79, totaling approximately $7.6 million. The company still has $91.8 million remaining under its existing share repurchase authorization.

On the debt side, as of March 31, the company reported total outstanding borrowings of $411.3 million, primarily comprising $393 million in term loans and $15 million in draws from its revolving credit facility. Golden repaid $5 million of that revolving facility during the quarter.

The company ended the quarter with $50.5 million in cash and cash equivalents, along with $225 million in undrawn capacity under its revolving credit line.

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